SGT German Private Equity GmbH & Co. KGaA / DE000A1MMEV4
07.06.2024 - 11:43:27SGT German Private Equity becomes German AI Group – General Meeting to vote on the company name change in August
| SGT German Private Equity GmbH & Co. KGaA / Key word(s): Strategic Company Decision/Strategic Company Decision 07.06.2024 / 11:43 CET/CEST The issuer is solely responsible for the content of this announcement. +++ Press release +++ SGT German Private Equity becomes German AI Group – General Meeting to vote on the company name change in August Announcement of details about the future Artificial Intelligence business and publication of the 2023 annual report planned for June Christoph Gerlinger in an interview with Finance TV General Meeting including presentation of the new business division on 14.08.24 Sales of VC shareholdings and cost reductions Frankfurt/Main, 13 March 2024 – SGT German Private Equity ("SGF"), a holding based in Frankfurt am Main, intends to announce details of its planned shift towards Artificial Intelligence by the end of June. The goal is to quickly build critical expertise, attract and retain AI talent, and return to profitability without major investment, while creating a platform to incubate promising AI startups. In an interview published earlier this week with Finance TV, founder and CEO Christoph Gerlinger provided initial details on this. The Annual General Meeting of SGF is scheduled to take place on 14 August 2014. On this occasion, the company will present the new business segment to its shareholders and put the change of name to ‘German AI Group’ to a vote. The invitation and agenda will be sent out in due time. In May, the subsidiary German Startups Group VC GmbH succeeded in partially selling two VC investments at respectively above book value. After the compensation of the managing general partner German AI Group Management GmbH has already been significantly reduced since the beginning of the year, this has now also been achieved for the remuneration of the Supervisory Board. With retroactive effect from 1 January 2014, the Supervisory Board waives half of its statutory remuneration until further notice. In addition, the company will put a reduction in the size of the Supervisory Board to three members to a vote at its Annual General Meeting. About SGT German Private Equity SGT German Private Equity is a listed investment holding based in Frankfurt am Main. From mid-March 2024, the company focuses entirely on artificial intelligence and change its name to ‘German AI Group’. From its origin as a leading German venture capital provider under the former name German Startups Group, SGT German Private Equity holds a heritage portfolio of minority stakes in some promising German Tech Startups. Investor Relations Contact Rosenberg Strategic Communications Dirk Schmitt d.schmitt@rosenbergsc.com +49 170 302 8833 07.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | SGT German Private Equity GmbH & Co. KGaA |
| Senckenberganlage 21 | |
| 60325 Frankfurt/Main | |
| Germany | |
| Phone: | 069-348690520 |
| Fax: | 069-348690529 |
| E-mail: | info@sgt-germanpe.com |
| Internet: | www.sgt-germanpe.com |
| ISIN: | DE000A1MMEV4 |
| WKN: | A1MMEV |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange |
| EQS News ID: | 1920775 |
| End of News | EQS News Service |
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